Just as we were rolling up our sleeves up, one eye on the 1st February SEPA deadline, the other on multiple SEPA implementations, coupled with a nervousness about overall readiness — the European Commission announces an extension to the SEPA migration deadline to 1st August, 2014.

While the EC “stresses that the SEPA migration end date of 1 February 2014 remains…”, the vast majority of corporates and SME’s will welcome the delay in the SEPA deadline… oops, I mean the “additional transition period of six months”.

The SEPA deadline ‘delay’, ‘extension’, ‘transition period’ — whatever you want to call it gives us additional time to complete our SEPA implementations, and all being well a period of getting used to SEPA as the business-as-usual process.